119 Lakeside Blvd · Hopatcong, NJ 07843

$655,000

6 bd · 3.9 ba · — sqft · MultiFamily · 18 Days on market

Built 1949 Fair condition 0.32 ac lot Est $493k · 33% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Rare lakeside opportunity! This beautiful 3-family home features stunning lake views and sits right in a premier lake community. Ideal for investors or first-time buyers. Delivered fully vacant and ready to go. Must see!

Key facts

• 0.32 acre lot
• 4 parking spots
• Built 1949

Property features AI

Finance

• Financial info: Property is a 3-unit investment (triplex); Net operating income, gross operating income, and operating expenses listed as 0

Exterior

• Parking: 4 parking spaces; Driveway widths vary: 1-car width and 2-car width sections
• Utilities: Natural gas available; Public sewer; Well water
• Home design: Triplex
• Construction: Roof: asphalt shingle
• Exterior features: Siding: see remarks; Asphalt shingle roof; No easements

Interior

• Kitchen: Each unit includes an electric range/oven and refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: 4 full bathrooms total; Unit 1: 1 bathroom; Unit 2: 2 bathrooms; Unit 3: 1 bathroom
• Heating & cooling: Hot water baseboard heating; Window air conditioning units
• Interior features: 16 total rooms; See remarks for individual unit room descriptions
• Laundry & utility: Owner pays water for all units

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $655k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $609/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $655k).
• Recommended offer: $645k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 0.7% in Hopatcong — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#249 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Hopatcong Borough School District (suburban): math 17% / reading 42% proficiency, ranked #322 of 472 in NJ (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Hopatcong High School (math 19% / reading 48%, grade F, #251 of 399 statewide, top 64%, 520 students, 25% FRL).
• Market conditions: 8 active listings in the ZIP; 184 units permitted in Sussex County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Sussex County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $183k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($645k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $645,175 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.95%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $493,386
• List price: $655,000
• Delta: 32.76%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $10,271
• Equity at exit: $97,663

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $159,177
• Equity at exit: $56,632

Cash invested: $183,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07843

• Active inventory: 8
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $8,041 high
• Mortgage (P&I): −$3,435
• Tax est. 1.5%: −$819 /mo · $9,825/yr
• Insurance: −$273
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,689
• Net cashflow: $1,826

Break-even live

Break-even rent $5,730

Max offer price $655,000

Occupancy floor 72%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$8,040
Total (3 units)			$8,041

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $163,750
• Closing costs: $19,650
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-09
   listed $655,000 Active 220-char remark
2. 2026-05-08
   historical $655,000 220-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,492
• − Mortgage interest: −$36,690
• − Property taxes: −$9,825
• − Insurance: −$3,275
• − Repairs & maintenance: −$7,719
• − Management: −$7,719
• − Depreciation: −$19,055
• Taxable income: $12,209
• Est. tax owed @ 24.0%: −$2,930
• After-tax cash flow: $18,980/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 3-family home is in fair condition with some updates needed to improve its resale and rental value. The property is located in a desirable lakeside community and is delivered fully vacant and ready to go.

Repairs flagged

• Minor Kitchen cabinets — Dated cabinetry needs updating or replacement.
• Minor Bathroom fixtures — Dated fixtures need updating or replacement.
• Minor Landscaping — Overgrown areas need trimming and maintenance.

Value-add opportunities

• Resale Updating kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers.
• Resale Updating bathroom fixtures — Modernizing bathrooms will attract more buyers.
• Both Landscaping and curb appeal improvements — Enhancing the exterior will increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dated cabinetry needs updating or replacement.	Minor	$500–3,000
Bathroom fixtures · Dated fixtures need updating or replacement.	Minor	$500–3,000
Landscaping · Overgrown areas need trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Updating kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers. ↑
• Resale Updating bathroom fixtures — Modernizing bathrooms will attract more buyers. ↑
• Both Landscaping and curb appeal improvements — Enhancing the exterior will increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hopatcong Borough School District
• NCES district ID: 3407440
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $81,724
• Composite: 28.72/100
• National rank: #6681
• State rank: #322 of 472 in NJ

Livability — Hopatcong

• Score: 71/100
• State rank: #249
• US rank: #6962

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopatcong, NJ
• City population: 11,309
• Population (ZIP): 11,309

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 133,413 people
• By 2030: 127,324 · -4.6%
• By 2040: 113,987 · -14.6%
• By 2050: 100,391 · -24.8%
• By 2075: 78,063 · -41.5%
• By 2100: 62,346 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 21% Two or more races 11% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8% Cuban 1% Dominican 1%
• Common ancestry: Romanian 11% Subsaharan African 3% Russian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 79% English-only · Spanish 13% Other Indo-European 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Sussex

• 2024 margin: Strong R (+24.9) · D 36.6% · R 61.6% · Other 1.8%
• 2008→2024 swing: -4.2pp toward R · 2008: -20.7pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+19.5 2016: R+30.3 2012: R+22.4 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -375.34%
• Current HPI: 346.6479
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-27 Pending — GSMLS
• 2026-05-09 Listed $655,000 GSMLS
• 2026-05-08 Coming Soon $655,000 GSMLS